RSM Australia

Tax insights

Foreign Resident Capital Gains Withholding Tax – Broader application than anticipated

19 July 2017
Rami Brass
The Federal Government recently announced changes to the Foreign Resident Capital Gains Withholding (“FRCGW”) rate and threshold.  The changes will apply to all contracts entered into from 1 July 2017 and include:
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OECD releases revised Transfer Pricing Guidelines

17 July 2017
Simon Salpigtidis
On 10 July 2017, the OECD released its revised OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations  in order to formally incorporate the most significant body of work ever undertaken by the OECD and its member (and indeed some non-member) countries regarding harmful international tax practices – the Base
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What are the GST implications of Retentions and Bank Guarantees?

21 June 2017
Tony Ince
While there have been no recent changes in this area, it is worth re-visiting as we have had a couple of queries on regarding Retentions and Bank Guarantees.
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Seven tax planning tips to help your small business with a 2017 tax plan

7 June 2017
Jarrad Turnbull
With the end of yet another financial year fast approaching, now is the final chance for small businesses to get their 2017 tax planning in order.
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New 12.5 percent withholding tax on property transactions

7 June 2017
Joanne Wynne
To ensure Australia captures as much tax as possible from property transactions a new withholding tax has been introduced and will apply to contracts entered into on or after 1 July 2017. Under the new provisions where a foreign resident disposes of:
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Signing the Multilateral Instrument

6 June 2017
Craig Cooper
What happens if you threw a party and the guest of honour did not turn up? The international aspects of the G20/OECD’s Base Erosion and Profit Shifting (BEPS) project will become a reality at a treaty signing ceremony to be held in Paris, on 7 June 2017. 
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Chevron Australia’s transfer pricing fight to go (at least) another round

22 May 2017
Craig Cooper
Chevron Australia has lodged the necessary paperwork with the Australian High Court registry, to apply for special leave to appeal against the Full Federal Court’s decision, in the long running and ground breaking transfer pricing litigation. The special leave application was lodged on Friday 19 May 2017, the last day possible.
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2017/18 Federal Budget - Analysis

19 May 2017
Andrew Sykes
In case you missed the LIVE coverage from Hotel Realm last Wednesday evening, Andrew Sykes from RSM Australia dissects "The Rocky Horror Budget". It was just a jump to the left for Malcolm Turnbull, but still a step to the right with continued attacks on public service pay growth and decentralisation.
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ATO releases draft transfer pricing guidance on international related party financing arrangements

17 May 2017
Craig Cooper, Simon Salpigtidis
On 16 May 2017, the Australian Taxation Office (ATO) issued in draft form a Practical Compliance Guideline (PCG 2017/D4) outlining its proposed compliance approach to the transfer pricing implications arising from cross border ‘related party financing arrangements’ (RPFAs). 
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Federal Budget brings relief for some doctors

16 May 2017
Peter Nicol
The government was keen to assure Australians that there will be better certainty when it comes to health funding, with the Budget seeing a $10 billion allocation re-invested over four years into the health care system.
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